India’s credit card market crossed 120 million active cards in May, driven by strong new additions even as spending growth slowed, according to RBI data. Net card additions rose 34% year-on-year to 1.02 million, while total spending increased only 6.3% to ₹2.02 lakh crore.
India's active credit card market surpassed 120 million cards in May, driven by significant new additions. Net card additions surged by 34% year-on-year, reaching 1.02 million. Despite this growth, total spending increased by a more modest 6.3%, amounting to ₹2.02 lakh crore.
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